Equivalency Details

An introduction to the basic principles of economics, with emphasis upon macroeconomic theory and analysis. Among topics considered are the scope and nature of economics, ideology and structure of the American economy, national income and employment theory, business fluctuations, money and banking, fiscal and monetary policies, and economic growth.

Macroeconomics examines the aggregate economy, with specific focus on unemployment, inflation, business cycles, and growth. Topics include economic reasoning, the economic organization of society, supply and demand, U.S. economic institutions, the world economy, national income accounting, money, banking, and the financial sector, the modern macro debate in reference to the aggregate production/aggregate expenditures model, demand management and fiscal policy, monetary policy, the debate about macro policy, the relationship between inflation, unemployment, and growth, international dimensions of monetary and fiscal policies, exchange rate and trade policy, traditional macro policy, supply-side macro policy, deficits and debt, and transitional economies. 3-0-3